Bangalore, Aug 7 (UNI) Arvind Ltd, a global leader in the development and production of textiles, today announced selection of Oracle Retail merchandising, planning, supply chair and stores applications, to support its aggressive growth plans to achieve leadership in fashion and value retailing in India.
Announcing this at a press conference here, Arvind Brands and Retail CEO J Suresh said the company proposes to invest over USD 100 million in the next three to four years and establish more than 250 large and small format stores across the country.
At present the company has 93 Megamart stores and Outlet centers.
In response to a question, he said of the total 210 stores proposed, by 2011 more than 185 would be in rural areas as rural market is yet to be tapped properly.
Mr Suresh said the Indian retail market, which is the fifth largest retail destination globally, is expected to grow from USD 330 billion in 2007 to USD 427 billion by 2010 and USD 637 billion by 2015. The organised retail, which presently accounts for four per cent of the total market, is likely to increase its share to 22 per cent by 2010.
Oracle Retail Vice President (Asia Pacific) Ronan Gilhawley, who was also present said top 20 industries in the world use Oracle Retail software and there are more than 7000 customers in India alone.
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